Radford motor manufacturer purchased by Moog
Aspen Motion Technologies has been purchased by Moog Inc. for $34 million.
The Radford-based company, a designer and manufacturer of permanent magnet motors, controls and motorized impellers for motors, was founded in 1996. Its revenues for 2012 were about $36 million.
“The addition of the Aspen products fills a product and technology gap for our existing customer base,” Larry Ball, president of Moog Components Group of East Aurora, N.Y., said in a statement. “Their engineering and manufacturing expertise not only brings us new opportunities, but also a number of valued customers that will add to our existing base.”
Moog is a designer, manufacturer and integrator of precision control components and systems.